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by whateveracct 1651 days ago
With $600k, you could just not touch it and then be free to do whatever job you want to just cover living expenses with no thought of retirement I'm pretty sure. "Coast FIRE" achieved.

EDIT: By "not touch it" I meant invest it in something safe and easy and then you'll have full retirement money in 30y
1 comments
cobaltoxide 1651 days ago
Suppose you retire at 65 and live to 90. That's 25 years. $600k is $24k/year for 25 years. Of course your investment may grow in the meantime; but there will also be inflation. I would suggest that $600k is insufficient savings for a retirement that would support the lifestyle you are accustomed to.
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kelnos 1651 days ago
Kinda hard to make that call given you don't know what kind of lifestyle OP is accustomed to, or where they even live.

At any rate, it's not $600k, because OP is going to retire in 30 years. Reasonably invested, I think you could get that up to $2.5M or so by then. And presumably OP won't be spending every cent of income over the next 30 years and will continue contributing to that nest egg, even if modestly.

A 4% withdrawal rate is probably safe if the retirement horizon is only 25 years. On $2.5M that's $100k/yr, which is plenty for most places in the world. Yes, inflation complicates things somewhat, but I think OP will still be fine.

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cobaltoxide 1651 days ago
> Kinda hard to make that call given you don't know what kind of lifestyle OP is accustomed to, or where they even live.

Well, they are 35 years old and have $600k, which says something.

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nodesocket 1651 days ago
Agreed, I think you need over $1m these days to retire safely with that much time left. Even with $1m you'd have to watch your spending a bit and invest wisely.
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whateveracct 1651 days ago
True - the $600k will be well over $1m in 30yrs (when retirement would begin) tho
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jasonpeacock 1651 days ago
Don't forget that as you get older you need more medical support, so your cost of living will actually be increasing while inflation is eating away at the buying power of your savings.

You need an investment that at least matches inflation, and is large enough to cover fixed living + increasing medical costs.

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